New social care tax could hit London workers and wealthier pensioners
A new mandatory levy on income is being considered to fund social care, with workers over 34 potentially paying 1.8% on earnings above £6,240. Wealthier pensioners could also face paying between 10% and 45% of their care costs, depending on their assets. The proposal, from a think tank Andy Burnham advised, would see contributions invested for each working-age group rather than spent immediately.
Lost in this story? That's the point of BriefTea.
Open it in the app and tap Learn from this — the Knowledge Galaxy turns the story into a map of everything it assumes you know, one tap at a time. Free, no ads, no paywall.
Get BriefTea on the App Store